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Bay County/Bay City/48706

48706

ZIPSAFMR
Bay County, MI
Zillow

ZIP Investment Score

67Below average

095130300
BRFMR
Eff. Rent
0 BR$860$800
1 BR$860$910
2 BR$1,090$1,130
3 BR$1,480$1,200
4 BR$1,590$1,220
5 BR$1,828Not available
6 BR$2,103Not available
7 BR$2,418Not available
8 BR$2,781Not available

Purchase Price Calculator

Maximum purchase price
$106,001

Cost breakdown

+Likely effective rent$1,130
HUD FMR$1,090
Market rent$1,150
Est. payment standard (104%)Used$1,130
-Principal and interest-$536
Loan amount$84,801
Down payment$21,200
Rate6.50%
Term30 years
-Operating costs-$394
Property taxes-$106
Insurance-$175
Utilities$0
HOA$0
Management-$113
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$18,389(86.7% ROI)
Projected value
$114,152
Return breakdown
Property appreciation+$8,150
Loan principal paid down+$3,038
Rental cash flow+$7,200
5-year hold
+$31,347(147.9% ROI)
Projected value
$119,930
Return breakdown
Property appreciation+$13,929
Loan principal paid down+$5,418
Rental cash flow+$12,000
10-year hold
+$66,599(314.1% ROI)
Projected value
$135,690
Return breakdown
Property appreciation+$29,689
Loan principal paid down+$12,910
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.07
1 BR
0.91
2 BR
0.95
3 BR
1.23
4 BR
1.30
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 48706 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 48706 (Bay City, MI) is $1,090 a month. That is up 1.9% from $1,070 in FY 2026. Bay City is in the Bay City, MI MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,055. Among 18 ZIP codes in Bay County, 48706 has the 8th-highest two-bedroom rent (county range $1,010–$1,400).

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 48706
BedroomsFY 2027Change90–110% range
Studio$860+2.4%$774–$946
1BR$860+1.2%$774–$946
2BR$1,090+1.9%$981–$1,199
3BR$1,480+2.1%$1,332–$1,628
4BR$1,590+0.6%$1,431–$1,749

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 48706
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$860$860$1,090$1,480$1,590
FY 2026$840$850$1,070$1,450$1,580
FY 2025$790$800$1,010$1,350$1,460
FY 2024$770$770$980$1,300$1,430
FY 2023$650$710$910$1,190$1,320

Two-bedroom rent in nearby Bay County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 48706
48642$1,360+24.8%
48650$1,010−7.3%
48652$1,210+11.0%
48658$1,010−7.3%
48659$1,080−0.9%
48706Current$1,090—
48707$1,060−2.8%
48708$1,010−7.3%
48710$1,060−2.8%
48732$1,020−6.4%
48747$1,210+11.0%
48757$1,100+0.9%

Questions about ZIP 48706 rents

How much will Section 8 pay for a two-bedroom in ZIP 48706?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,055, which applies unless the housing authority uses Small Area FMRs, that basic range is $950 to $1,161 a month; under the ZIP-level Small Area FMR of $1,090 it would be $981 to $1,199. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 48706 in?

ZIP 48706 is in the Bay City, MI MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,055.

How much did fair market rent change in ZIP 48706 for FY 2027?

The two-bedroom FMR rose 1.9%, from $1,070 in FY 2026 to $1,090 in FY 2027. Since FY 2023 it has risen 19.8%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentBay City, MI fair market rentMI statewide rentsWhat is SAFMR?Data sources